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at the university of san diego law school, and an expert on sarbanes-oxley. >> the idea was to have a criminal statute in place that would make ceos and cfos think twice, think three times, before they signed their names attesting to the accuracy of financial statements or the viability of internal controls. >> and this law has not been used at all in the financial crisis? >> it hasn't been used to go after wall street. it hasn't been used for these kinds of cases at all. >> why not? >> i don't know. i don't have a good answer to that question. i hope that it will be used. i think there clearly are instances where ceos and cfos signed financial statements that said there were adequate controls, and there weren't adequate controls. but i can't explain why it hasn't been used yet. >> we told partnoy about eileen foster's allegations of widespread mortgage fraud at countrywide and efforts to prevent the information from reaching her, the federal government, and the board of directors--in violation of the company's internal controls. i mean, that's a deliberate circumvention, right? >> it certainl
is not a solution to the crisis we face as a nation. only honest, law-abiding gun owners will be affected and our children will remain vulnerable to the ineactivitiability of more tragedy. a lot of these proposals that the president put out were greeted with lukewarm response. john boehner's spokesman put out a statement saying the house will look at those recommendations and if the senate pass as bill they will look at that too but no commitment move to any legislation in the house of representatives. so, larry, it looks like a lot of these proposals will not happen but there were more than 20 elements of what he proposed today, the president that were, in fact, executive actions that he could sign today and enforce through the executive branch of the government and that he did. so the rest of the proposals will be legislative and we'll have to see how they fare. >> as always, thanks eamon javers. the national rifle association is pushing back with a tough new ad campaign labelling the president an elitist hypocrite for allowing his own kids to have their protection. >> are the president's kids
,000 penalty. businesses of all sizes are searching for ways to cope with the law, and the easiest way to avoid paying expenses is to hire more temps. see, to qualify for health care coverage under the affordable care act, they are more likely to hire temp employees. you will have try to have fewer than 50 full-time employees so you don't have to rely on obama care. and small businesses aren't alone in not wanting to cover health care costs. if you are a lark elarger busin much more likely to hire part time workers to avoid paying more for health insurance. obama care kicks in starting 2014, the companies need to start making ajustments now? the law has a 12-month look back or measurement period for the purposes of figuring out how much each company will be on the hook for. 2013 is a great year for the temporary staffing business. the question is, how do you play it? commercial stfing companies that connect companies with lower skilled workers, companies like true blue, kiel services and man power and staffing companies that provide workers with higher level skill sets like robert heft, on assi
the president's desk he would not stand in the way of the bill becoming law. >> the bottom line, of course, is that having broken the link between specific spending cuts and specific dollar increase in the debt ceiling it becomes easier for congress to shift the fight over spending and taxes and revenue on to different ground. of course, the quester and the -- the continuing resolution to fund the government, but you're hearing some of both parties saying they might even accept the sequester. some of the stakes appear to be fading from these disagreements that paralyzed washington at the end of last year. >> when i heard this original deal profrksd i thought it was on the condition that the senate eventually congress had to actually pass a budget finally. >> that's still on the table. >> that is still on the table. a little bit less clear is the fate of the idea that somehow pay would be suspended for members of congress if they don't pass a budget. >> right. >> there are questions about the constitutionality of that provision, but the entire provision is to try to force the senate to forc
to ban guns from law-abiding citizens for decades. they add the american people know gun bans do not work and we are confident congress will reject senator dianne feinstein's wrong-headed approach. right here we'll debate. let's go to our cnbc contributor and author of "divider in chief" and kay bailey hudson. i was reading former new york police chief bill braddon who thinks the gun ban is crazy. there's 350 million firearms out there, including assault weapons. you think this feinstein approach has a chance? >> well, i think that harry reid gave you the signal that it's going to be very difficult because he said i'm not bringing up anything in the senate that isn't going pass in the house. because he has vulnerable democrats who are up for election in 2014 that are in states that value their guns, and i think that it's going to be very difficult. and i also think republicans are looking at other issues like violence in the movies, violence on these video games and that it's a culture thing that has to be talked about and a part of the debate as well as just always focusing on the limita
in international waters, where there's no law against finning. but on land, laws can be enforced. in cape town recently, authorities raided several processing plants owned by hong kong chinese. seven tons of fins were confiscated. this is only a small fraction of the whole. and after you've seen those fins laid out, have another look, as we did, at sharks doing what sharks do-- at a cow shark weaving through an underwater forest; at the perfect geometry and grace of a blue shark in cold, clear water. it's not the shark's fault that we've demonized him for so long. besides, we need our demons; they've been with us, in our minds, as long as gods. so the next time you're in a chinese restaurant and feel like some soup, why not stick to the egg drop or the wonton? give the shark a break. >> since our report first aired, the worldwide shark tourism business has continued to thrive. but there is some good news for the sharks. in january of 2011, president obama signed into law the shark conservation act. it outlaws shark finning by requiring that all sharks caught in u.s. waters be landed with their
the rule of law with the rest of the world, they would be happy with that. >> i talked to the planning people and the ceos of a lot of multi nationals. none of them that i speak with are saying that. the uk should never become hong kong or singapore not because they aren't great things, but because they're tiny countries. of course we'll have to stick with rule of law. of course we'll have to play to their financial strengths. but that's not going to be enough if they pull themselves out of their most important political and economic relationship and if they seem to be america's wrij into europe. >> what -- the u.s. feels very strongly, it's extraordinarily strong remarks, unusual. why was that? is it because actually they view the uk as the biggest proopponent of trying to get a single market to work and if europe is not in it, they're more competitive? >> i think they view the uk's voice as more liberal and more broadly european affairs is an important one and it's a question of the uk is in many ways the u.s.'s most important national security ally. and pulling out politically inter
in the pass that's frankly unfathomable. i remember why it went to 5, 6. bank of america is a law firm that is -- it's like -- it looks a lot like a bank because there's tellers, but in the end it's a law firm, associates and partners. the international consumer trends i like, but citi moved a lot. you always want your banks to put on a best face. anyone who went through the conference call -- actually there's more hue mill to goldman. there was a noeshs things are great. i look at these and it's like, well, i'm trying to understand international. this is a bank in flux, citi, i think it's trying to fish out what it is. when it does, the stocks will go higher. >> i think there was a higher expectations, and that may have impacted the number. as you say, just going through the numbers. debt valuation adjustment, 485 million, a billion repositioning charge, legal charges of 1.3 billion, reserve releases, i want only 86 million, 'opposed to an expectation. it will be tenfold that, so you end up with the number, but we'll see. >> -- >> david, would you characterize it as a pandit quarter o
components. the company has a sporting goods division, with ammunition for sporting and law enforcement, along with shooting accessories. now whatever you think of guns the stock we know that people are owning guns at alarming rates because they fear the legislation and if people are buying more guns they are buying more ammunition and accessories. the acts of senseless violence you have seen in the news including the one today, makes this a hard stock to talk about. i am asked multiple questions every day about the gun stocks. i refuse to answer them, but i do understand that profiting from a military play is a pretty healthy situation for that contractor even if it is bad for the country. if it bothers you, i can see how this stock would turn you off. don't walk away as a statement. instead, if you want to make a difference, own the stock and then donate the profits to a charity of your choice. which is what i did with altria. i did give a lot of money away to fight what they do. because of a robust defense orders and the need for defense companies to grow, i believe it is going to go
using google, searching for things, clicking on ads is actually slowing. >> is this just the law of big numbers, though? >> well, i mean, google is doing $50 billion a quarter in revenue and is kind of hitting this sort of inflection point, slowing growth. apple hit that same inflection point at $150 billion in growth. so to a certain extent, it is a -- a law of large numbers. but the thing is, this is a tech company. and i think this is an overall problem for tech is that growth in tech is slowing. as tech becomes a bigger part of the economy, it's not growing as fast as it used to. jordan's take -- and, you know, i asked him what to watch for. his take was that as a -- becomes a mobile search more than a -- i guess a search p.c., that it's only, what, 20% now. cheaper mobile. once you get to the point where mobile becomes a bigger part, that then it can start growing again. what -- did it hit that inflection point yet where mobile has become bigger enough to start adding to growth? >> if you go back, actually, like two years ago, growth had slowed. it was in the high teens, 18%, 19%.
will defend our people and uphold our values through strength of arms and rule of law. we will show the courage to try and resolve our differences with other nations peacefully, not because we are naive about the dangers we face but because engagement can more durably lift suspicion and fear. america will remain the anchor of strong alliances in every corner of the globe, and we will renew those institutions that extend our capacity to manage crisis abroad for no one has a greater steak in a peaceful world than its most powerful nation. we will support democracy from asia to africa, from the americas to the middle east because our interests and our conscience compel us to act on behalf of those who long for freedom, and we must be a source of hope to the poor, the sick, the marginalized, the victims of prejudice not out of mere charity but because peace in our time requires the constant advance of those principles our common creed describes. tolerance and opportunity. human dignity and justice. we, the people, declare today that the most evident of truths that all of us are created
't require a vote. it is the law. it says you do nothing, the whole sequester goes through, 1.2 trillion, you know this better than i do, about $100 this will this year. will it go lieu? >> i think the spend being cut will go through one way or the other. obviously i'd rather see us do a budget, prioritizing spending instead of cutting everything and we should eliminate programs that no longer work. one way or another there's a spending cut that will happening. i think it's better if we eliminate programs that are no longer useful and prioritize spending. that's what people do at home and we should be doing here. >> how about letting the spending sequester go through and then have a new budget for the new year and which will presumably trim budgets even more. >> larry, the one issue -- i serve on the armed services committee as well and i think there are some cuts there that go way too far. secretary panetta said we'd be undermining our national security for generations. the safety and security of our country, particularly with what we see happening overseas right now we've got to focus on. o
there is a drag to the gdp. on the 27th, current law on the government funding runs out that forces a drama over a continuing resolution, or you face the risk of a government shut down. on april 15th, that's the date by which the house would force congress to pass a budget or see their pay cut. the risk there, of course, is members of congress might have to go quite some time without a paycheck. tyler? >> thank you very much, eamonn. >>> the gop originally wanted to tie the debt limit raise to spending cuts. so are republicans backing down as some in their own party say or is it just a shift in tactics? scott garrett is back with us, a republican from new jersey and vice chair of the house budget committee. welcome back. great to see you again. >> good to be back with you. >> happy new year. >> there are some people including senator rand paul of kentucky who say that at your conference last week in williamsburg you retreated on the debt ceiling issue. is that a fair characterization? if so, was it a change of heart or a change of tactics? >> i didn't hear rand's comment as far as that is concer
's an entire life that goes in the garbage. it's unbelievable. >> american law doesn't require a distinction between varieties of truffles. and this product does sell for considerably less than the best of france. but american consumers are being deceived into thinking they're getting the finest quality at a bargain price. the owner of this brand is pierre jean pebyre. >> this is your company, right? >> yes. >> okay, so we found this in the united states. >> yes. >> okay, so this says, "black winter truffles." >> yes. >> but it's chinese. >> it's chinese, yes. this is a tin. it's a french product. the truffles-- if i put--if i make the tin in china, it's a chinese truffle. >> i'm stunned. he was saying that since the truffles are packaged here, he can legally write "product of france" on the label. it feels like i'm being tricked
with not passing a budget even though there's a law, the 1974 budget act, that requires congress by law to pass a budget? what's the enforcement of that? well, there's going to be enforcement after today. and the enforcement is you're not going to get paid like most of the american people do when you dornt do your job. >> right. salary would say go into escrow until the chamber does pass a budget. questions about constitutionality about that though. what do you make of them? >> well, look, we wouldn't be passing it if we didn't think it was constitutional, and the fact of the matter is if the house of representatives passes this with a majority instructing the treasury to withhold our pay if we don't pass a budget, we believe that's constitutional, as does the senate. if you vote with the majority vote, you can withhold our pay. look, what are we talking about if we hit the debt limit? we're not going to pay military personnel. we're not going to pay all those other things we're contractually obligated to do, the same thing with our own pay. if we can't start with ourselves, how can we threaten
. >> netflix, we use this. you can get old episodes of law through your playstation. >> you can have it put right into your television. >> see, video streaming service posting a profit of 15 krevents a share. my blackberry makes a sound every time i get a message. >> are you kidding? >> every time it buzzes, it's either itunes or netflix i've bought something. now, who is doing that? >> i would assume the kids are doing that. >> like every minute. it's like, oh. >> you know that sounds will annoy you. >> that's okay. can you -- >> does it bother you? >> no. i feel good. i feel like i'm -- >> i'm going to send you e-mails. >> i feel like i'm involved. did you see what facebook causes in people? >> what? >> loneliness, envy, jealousy, depression. here they are sitting in their dpred depressing basement and they're seeing these people doing these -- the lives they're lead sg like, my life is horrible. did you see that? facebook makes you depressed. >> it doesn't surprise me. especially when people are checking in on people that they're not friends with any more. >> right. >> it's like, look at
concerned about this health care -- new health care law. it is already going to cost me millions in my current budget to implement it, effective 200014. >> why is it costing you millions? what's the source oaf that expense? >> the source of the expense is the current growth in the medicaid program. once it begins this 2014 they'll try to have a number of people sign up for the current medicaid program. in my state, that'll be about $72 million. >> and are your businesses going to essentially take the penalty rather than the mandate and put their workers on to the so-called exchange? >> you know, i don't think we know the answer to that question yet. there's so much uncertainty and unknown. our businesses are still trying to figure it out. but i do know this. they're very, very concerned about the cost of obama care. >> all right. we'll leave it there. governor dave heinman of nebraska. good luck and thanks for coming on. >>> now talk about a p.r. nightmare. boeing 787 dreamliners remain grounded around the world tonight. but did the stock bounce back? we have some answers ahead, i thin
be on condition that the house and senate both passion a budget which they are supposed to do under law by that point anyway, and finally it would take an approach of no budget, no pay if the congress refused to do that. here's the response from senate democrats. they said, no, we will consider a clean debt limit extension without any conditions if the house sends us one, so they are trying to keep the pressure on. the white house says we're encouraged that republicans appear to be backing off their determination to hold the u.s. economy hostage to its budget plans. now, democrats are feeling like they are making progress now. the question is going to be can republicans push this through the house in order to put pressure on democrats to compromise on terms? one republican member told me this afternoon that this is -- this might fly, but it's something that was put together haphazardly. we've not done a whip count. this could turn into plan "b" for speaker boehner. that's what we're watching next week. the good news is for markets though. it does appear we're moving, if not steadily, ma
that is their biggest mistake. that is already the law. the democrats are trying to hedge on it. the president has already said it's not going to happen. this is where the republicans should go. and they won't go there. and that's why i doubt their bona fides on spending. >> you have to first of all as i said before get across that spending levels are stoo high. keith, you would agree with that, right? >> no. >> see what i mean? they're too high. >> perfect. right. >> you think this level is appropriate. 25% gdp. >> you're talking about gdp to spending -- >> yeah. >> yeah, that is too high. but that's not because we're spending too much. it's because our revenues aren't -- the reason our revenues is r. in decline is we're in a very weak recovery. we got out of the worst resgs -- >> whose fault is that? >> there was a president who came in before us. i don't know -- >> you can't keep blaming bush. you're in your second term. >> bill clinton. >> he doubled the national debt. >> his last budget was $1.8 trillion. obamas first fully owned budget was $3.8 trillion. 1.8, 3.8. >> guess what happened duri
of law, transparency, opportunity to get good managers. the u.s. will grow at a reasonable rate this year, 2%, 2.5%. outside of the united states, the best emerging markets are china, brazil we like a great deal. other places like peru, colombia, chile, south africa, turkey. korea, as well, in asia, indonesia attractive. europe has appeal. it's been beaten down so much we think it's the largest emerging market in the world. price vs. been beaten down and -- prices have been beaten down and we think growth will occur. for example, a lot of banks have to sell assets. we recently bought tcw. an asset in the united states. not a european asset. but it was owned by a french bank. that's a good asset. we think we got it at a good price. there are many banks in europe who will sell assets this year and next. we think there are good opportunities to buy there. >> it's interesting because banks are being forced to do fire sale prices. they need to raise capital. that's an opportunity for you. >> i hope so. i hope these are fire sale prices. they're probably not going to be that cheap. the banks ca
about that. the law itself is 2,500 pages. most of them missed the point. for example, we haven't dealt with the too big to fail issue in an adequate way. we haven't dealt with fannie mae and freddie mac and the housing in an adequate way. we have too many regulators that are -- the system is too frag managemented and it's too poe lit sized. there's a lot of things we should have done ta dodd frank didn't do. i'm all in favor of very strong regulation, but we didn't get it with dodd-frank. i think with dodd-frank all we got was excessive and ineffective regulation and we haven't fixed our system. >> wa about the inof banker pay? is it structured in a way that creates problems and different vulnerabilities within the banking industry? would you reform it? and how so? >> i couldn't quite hear that question. we don't have a great connection the. >> sorry, bill. we apologize for all the issues. i lastly wanted to ask you about banker pay. compensation is in focus here. does it need to be reformed? if so, how? >> i think i heard you talking about compensation and the fact that we are not reg
. there are always regulations, laws that you can impose to make sure stuff doesn't happen or does happen. it's a lot easier than when you're trying the win midterm elections. >> the first report on january consumer sentiment is out at 9:55 a.m. eastern. forecasts call for a reading of 75.5 up three points from december. we'll look at earnings from general electric, morgan stanley, schlumberger, johnson controls, state street and suntrust bank. >>> the outgoing treasury secretary, whose last day on the job is january 25th, tells "the wall street journal" the u.s. is well ahead of other countries in balancing the financial system. geithner says the u.s. has more diversity of strength from energy to high tech and the public should find comfort and optimism in that. but, rob, the public is not finding much optimism, are they? >> they shouldn't, given that we didn't get the fiscal cliff deal that we thought we did on january 1st. we got a mini deal. it looks like rubbish. they shouldn't be desperately optimistic. other things are going right. stock prices have been reasonably buoyant. the gas prices are
the government has come out today and said that no, we don't need to think about revising the bank of japan law. it was a threat they had out there before this statement came out. i think that independent story is something we can forget about for the time being. i think the interesting point is that monetary policy, anyone will tell you, has its limitations. especially in a country like japan. i think the onus is going to start shifting to the government itself and the government is looking ahead to an election, as we talked about many, many times. and here becomes the tricky part because they're trying to embark on structural reforms, they're talking about tax reforms, as well. this will be a multi layered process and hopefully they'll be in power long enough to deliver some of those changes. i think the market was expecting for the bank of japan to come in .deliver everything that was going to solve all of japan's problems after decades of recession, then they were probably misguided. but for the moment, the reaction we're getting from people who were watching japan is they probably took as
to you. >> thank you, diandiana. what kind of penalty do you get if you don't follow the law? monetary, of course. but basically that depends on what the issue is and what you did wrong. i'm not going to put any number on anything. but it depends on what you do. but they're going to go after you. i asked richard core dra cordri they were going to do and he said they would be aggressive, they would look at the books. >> when we come back, we will have more on the latest developments on the international hostage crisis in nigeria. there were reports this morning that some workers have skapd. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> welcome back to "squawk box." s&p 500 off marginally. the dow would he 16 points lower. some of the hostages being held at a natural gas field in algeria have escaped. algerian tv says 15 foreign hostages have made it out, i
to say that this is just an extension of existing law, making it apply to new technology. there was a case, his pan igs united of buffalo, a nonprofit social services provider where a caseworker threatened to complain to the boss that others, other employees weren't working hard enough. one worker, mariana cole rivera posted a facebook message saying my fellow coworkers, how do you feel? four other people came back with sometimes angry, expletive laden responses. what the hell, we don't have a life as is. try to do my job, those five workers were fired. for posting those things, and the nlrb said that that is not okay. that this is free speech, they're allowed to vent, as they called it, and it's okay, and they had to be reinstated with their positions. now there were some other situations where the board said this is not free speech. they cracked down where a newspaper reporter, a homicide reporter at the arizona daily star in tucson posted some things saying, what? no overnight homicides? you're slacking, tucson. and another began by saying, you stay homicidal, tucson.
Search Results 0 to 27 of about 28 (some duplicates have been removed)